Conifer Health Announces Multi-Year Contract Extension with NorthShore University HealthSystem

Rhea-AI Summary

Conifer Health Solutions, a subsidiary of Tenet Healthcare Corporation (NYSE: THC), has announced a multi-year contract extension with NorthShore University HealthSystem. This extension continues their 20-year partnership to provide physician revenue cycle services through 2024. The contract enhances NorthShore’s operational efficiencies and cash collections via comprehensive accounts receivable services. Additionally, Conifer played a key role in integrating Swedish Hospital into the NorthShore system. The announcement underscores Conifer's commitment to delivering value through revenue cycle expertise and innovative solutions.

Positive

• Multi-year contract extension with NorthShore University HealthSystem enhances revenue cycle services through 2024.
• Integration of Swedish Hospital into NorthShore's system successfully completed, improving operational efficiency.
• Conifer's extensive revenue cycle management expertise supports NorthShore's strong performance.

Negative

• None.

Conifer Health Solutions, a subsidiary of Tenet Healthcare Corporation (NYSE: THC), announced today a multi-year contract extension with NorthShore University HealthSystem (NorthShore). Building on a relationship of more than 20 years, Conifer will continue to provide physician revenue cycle services to NorthShore through 2024.

Conifer’s comprehensive accounts receivable (AR) services, coupled with enhanced revenue cycle performance insights, equips NorthShore with valuable data for optimizing systems and processes. This high-touch support is designed to accelerate cash collections and drive operational efficiencies.

“Over the many years of our relationship, Conifer continuously demonstrates its expertise as a service provider and its support as a strategic partner,” said Debbie Kirkorsky, NorthShore’s senior vice president of physician revenue cycle. “The team has proven its value to our strong performance time and time again through their extensive revenue cycle knowledge, insightful analytics and innovative leadership.”

In addition to continuing services, the extended contract included the integration of Swedish Hospital (formerly Swedish Covenant Health) which joined the NorthShore system in January 2020. Conifer’s supporting role in the integration and transition of Swedish Hospital’s physician revenue cycle to the new operating environment successfully concluded late last year.

“We are extremely proud of all we have accomplished with NorthShore over the past two decades and look forward to many more successful years to come,” said Matthew Bayley, M.D., Conifer’s chief commercial operations officer.

About Conifer Health Solutions

Conifer Health Solutions, LLC, a subsidiary of Tenet Healthcare Corporation, brings 35 years of healthcare industry expertise to help health systems and physician practices address their most pressing revenue cycle challenges. The company offers tech-enabled end-to-end and point solution revenue cycle services that enhance the patient experience, drive operational efficiency and improve financial outcomes. Annually, Conifer Health manages 17+ million unique patient interactions, more than $25 billion in net patient revenue and $22.6+ billion in medically managed spend. Conifer Health also provides value-based care services focused on population health management and financial management services for more than five million lives. For more information, visit ConiferHealth.com or follow us on LinkedIn, Twitter and Facebook.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210309005714/en/

FAQ

What is the significance of the Conifer and NorthShore University HealthSystem contract extension for THC investors?

The contract extension demonstrates Conifer's sustained partnership with NorthShore, potentially leading to stable revenue streams for Tenet Healthcare (NYSE: THC).

When does the Conifer contract with NorthShore University HealthSystem expire?

The contract is extended through 2024.

How long has Conifer Health Solutions been working with NorthShore University HealthSystem?

Conifer has been in partnership with NorthShore for over 20 years.

What services does Conifer provide to NorthShore University HealthSystem?

Conifer provides physician revenue cycle services, including comprehensive accounts receivable management.

What role did Conifer play in the integration of Swedish Hospital?

Conifer successfully managed the transition of Swedish Hospital’s physician revenue cycle to NorthShore's operations.